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Otto Energy Limited ( (AU:OEL) ) has provided an announcement.
Otto Energy Limited reported a decline in its reserves and resources as of June 30, 2025, with net proved reserves down by 10% and proved plus probable reserves down by 24% compared to the previous year. The decline is attributed to production during the period and reclassifications, particularly at the Lightning field. Despite this, the company maintains a strong cash position and steady production rates, indicating resilience in its operations. The relinquishment of the ST 48 lease led to a significant reduction in contingent and prospective resources, impacting future potential developments.
More about Otto Energy Limited
Otto Energy Limited is an oil and gas exploration and production company. It focuses on developing and producing oil and gas reserves in various fields including South Marsh Island 71, Lightning in Matagorda County, Texas, Green Canyon 21, Mosquito Bay West, and Oyster Bayou South.
Average Trading Volume: 5,957,980
Technical Sentiment Signal: Hold
Current Market Cap: A$21.58M
For an in-depth examination of OEL stock, go to TipRanks’ Overview page.